Photo © Angelina Bambina
A recent UNESCO report documents the economic impact of the pandemic on cultural and creative industries. The world’s cultural ecosystems have been hit hard by the many lockdowns, and artists and cultural professionals are particularly vulnerable to the current economic shocks.
Some highlights of the study :
- The cultural and creative industries that are most dependent upon physical experiences at venues and sites have suffered the sharpest economic losses in relative terms, across many different national contexts;
- The performance of cultural and creative industries across different countries is also consistently worse than the overall performance of these national economies;
- Losses in revenue of cultural and creative industries in 2020 ranged between approximately 20 to 40% across different countries.
Cultural and creative industries in the face of COVID-19: an economic impact outlook
16 August 2021
Pandemic, Cultural Industry, Economics of Culture